At mid-session, the the July futures corn contract is 1 cent lower at $6.67. New-crop Dec. corn futures are trading 6 cents higher at $5.44. The July soybean futures contract is trading 10 cents higher at $15.22, new-crop Nov. soybeans are trading 5 cents higher at $12.90. July wheat futures are trading 2 cents higher at $6.82 per bushel. The July soymeal futures are trading $7.10 per short tonhigher at $456.20. The July soyoil futures are trading $0.04higher at $48.88.In the outside markets, the NYMEX crude oil is $0.15 per barrel higher, the dollar is lower and the Dow Jones Industrials are 8 points higher.

One grain analyst, says heat dome fears underpin the market."The big news underpinning the higher trade is the talk of much warmer and drier weather in the 6 to 15 day outlook," he says. Warmer and drier weather is just what the market needs to improve the overly wet conditions, he says."But, this is too similar to two years ago, when record wet conditions led to late planting followed by a dry late June and all of July. Record high prices followed, as yields dropped. There's a heat dome simmering in the South, ready to move up in July, fear has it."

Heat dome fear? What? Now that would be a double whammy. What do you all think?

Mike

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At the open:

At the open, the the July futures corn contract is 2 cents higher at $6.70. New-crop Dec. corn futures are trading 1 cent lower at $5.38. The July soybean futures contract is trading 9 cents higher at $15.21, new-crop Nov. soybeans are trading 5 cents higher at $12.91. July wheat futures are trading 4 cents higher at $6.84 per bushel. The July soymeal futures are trading $5.10 per short tonhigher at $454.20. The July soyoil futures are trading $0.09 higher at $48.93.In the outside markets, the NYMEX crude oil is $0.21 per barrel higher, the dollar is higher and the Dow Jones Industrials are 53 points higher.

Re: Floor Talk June 18

Miek - what I'd like to see is about once a week or so, put up the tracker information that would be used by long term hedgers. The trade data put up has everything to do with people wanting to make 1/4 cent/bushel on day moves or with the speculator sitting on a bin of beans and wondering which day to pull the trigger and zero to do with me trying to lock in a good price for my production.

Re: Floor Talk June 18

This might be an example of a longerterm tracker for hedgers. This looks out to the month of September. Ukraine's government is still considering a grain export ban. In his own words, my Ukrainian contact shares this information on the current corn exports to East Asian buyers that are replacing feedwheat with corn and an update on the Ukrainian grain export prospects:

"The main markets for the Ukrainian grain (corn included) are in the Middle East and North Africa because of the relatively small logistic costs.Oh, by the way. Ukraine fixed the agreement with China for 4 mln tons of grain annually. But there are doubts that traders will agree to sell grain to the very uncertain so-called The Ukrainian State food and grain corporation. Traders are afraid that the government may introduce the ban on the grain export in order to force them to sell grain to that state company.The fear of a grain export ban is not over. No, the government says that they will announce the quota for export in the beginning of September. But there are a lot of unofficial ways to stop export as in previous years," he says.

Graham County Kansas for the next week ...

Thursday

6/20/2013

Friday

6/21/2013

Mostly sunny with a 20 percent chance of thunderstorms. Highs in the upper 90s.

Lo: 72°

Partly cloudy. Lows in the mid 70s.

Saturday

6/22/2013

Hi: 97°

Mostly sunny with a 20 percent chance of thunderstorms. Highs in the mid 90s.

Lo: 70°

Partly cloudy. Lows in the lower 70s.

Sunday

6/23/2013

Hi: 95°

Partly cloudy with a 20 percent chance of thunderstorms. Highs in the mid 90s. Lows around 70.

Lo: 69°

Partly cloudy with a 20 percent chance of thunderstorms. Highs in the mid 90s. Lows around 70.

Monday

6/24/2013

Hi 98

60% of the time, it works every time.

"Political correctness is a doctrine, fostered by a delusional, illogical minority, and promoted by mainstream media, which holds forth the proposition that it is entirely possible to pick up a piece of dung by the clean end."